THE GOOD

Ap­ple cel­e­brated the 10-year an­niver­sary of the iPhone on 9 Jan­uary. More than 1bn iPhones have been sold over the decade, and many see the orig­i­nal iPhone as the de­vice that de­fined the smart­phone. Since the birth of the iPhone, Ap­ple’s mar­ket cap has in­creased by 870%, mak­ing it nearly a 10-bag­ger in a decade, “which most in­vestors know is an ex­cep­tional feat”, Ves­tact said in a re­cent note to clients. Ves­tact main­tains a buy rec­om­men­da­tion on the stock and be­lieves the group’s fun­da­men­tals met­rics are “cer­tainly favourable”.